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GOL Offshore soars on bagging contract worth Rs 710.00 crore from ONGC

09 Oct 2013 Evaluate

GOL Offshore is currently trading at Rs. 50.45, up by 1.60 points or 3.28% from its previous closing of Rs. 48.85 on the BSE.

The scrip opened at Rs. 51.85 and has touched a high and low of Rs. 51.85 and Rs. 49.25 respectively. So far 26568 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 117.50 on 18-Oct-2012 and a 52 week low of Rs. 36.25 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 52.25 and Rs. 48.40 respectively. The current market cap of the company is Rs. 187.32 crore.

The promoters holding in the company stood at 49.72% while Institutions and Non-Institutions held 7.79% and 42.47% respectively.

GOL Offshore has signed the contract with Oil & Natural Gas Corporation (ONGC) on October 07, 2013 for reconstruction of the gas processing platforms of ONGC on the West Coast of India. The contract is for a period of two years plus and valued at approximately Rs 710.00 crore.

The contract is for reconstruction of gas processing platforms of ONGC named BPA and BPB, on the West Coast of India. The role of the company involves engineering survey, detailed design & engineering, procurement, fabrication, transportation of materials (from shore to offshore), installation & hookup and commissioning.

GOL Offshore, earlier Great Offshore is India’s prominent integrated offshore oilfield services provider, offering a broad spectrum of services to upstream oil and gas producers to carry out offshore exploration and production (E&P) activities.

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